An economics professor at Texas Tech said he had never failed a single student before but had, once, failed an entire class. That class had insisted that socialism worked and that no one would be poor and no one would be rich, a great equalizer. The professor then said ok, we will have an experiment […]

As I read the daily news, listen to politicians, and chat with my colleagues in the teachers’ lounge, it really seems that almost everyone believes that mortgage defaults and delinquencies are the reason we are in this financial mess characterized by frozen credit markets and downward spiraling stock markets. To my way of looking at the economic world, saying that rising mortgage payment defaults and delinquencies […]

“Anger”, more so than “fear”, is perhaps the most often expressed emotion by U.S. citizens, Congressmen, and media analysts when discussing the proposed $700B federal bailout of the U.S. financial system. “Anger” is the primary emotion because the $700B will be put at risk by the American taxpayer to bailout the very same financial institutions that have become increasingly reckless and greedy regarding their investing and borrowing practices. In America, especially over […]

Yesterday in my classroom, I explained to my students the financial crisis that is occurring in the U.S. economy, and the Federal Government bailout bill that both houses of Congress are trying to agree on to save the economy. This is such a national crisis that our key government officials were working on this bill […]

The Sky is Falling! Or is it? I believe one of the most misunderstood areas of the U.S. economy today is the disdain shown by the average American citizen over the current level of the United States’ national debt which now totals $9.4T. Yes, currently the U.S. Government owes a collective $9.4T to American households, […]